And earlier today I talked about this potential bear flag.

And the update now is that it could actually broke down out of this bear flag.

Will the big comprise be supported by this green support area?

Or is the basic um price currently go all the way down to the bear flag targets?

I also want to talk about this huge see me futures gap that is currently getting formed in the big Corn.

See me charts and beef can also just broke down below the neckline of this possible head and shoulders pattern.

But the most important topic of this video is what is the reason for this current dump?

And right now, everyone seems to be speculating that plus token might be dumping bit corn because they just moved $117 million worth of big corn, the equivalent of 13,000 Bitcoin.

So I'm gonna show you this article talking about the fact that plus token might be the reason for this huge selloff.

And if you think that that sounds interesting that I think that you should definitely hello and welcome to the Moon Martin is Carl, and I want to bring in this second update for today an emergency update because the big compress has continued to sell off.

Earlier today, we were up here.

Ever since my last video basically has dumped even further.

So let's take a look at why bit Cory's dumping.

And then I want to take a look at some key levels and some very, very key things in the chart.

But everyone over on Twitter and in Crypto is talking about plus token currently.

So the current Beacon dump could be because of a big plus token sell off because it is known that plus token moved another 13,000 Bitcoin very, very recently, worth $117 million.

And it is also known that plus tokens, intent is to sell.

So if you don't know what plus token is, basically it was a big Ponzi scheme, and it blew up not very long ago, and ever since, we've actually seen close again trying to unload these thousands and thousands of big corner on the market, and they are trying to use mixers and they're trying to hide the origins of the Bitcoin.

But yet What we saw recently was another 13 1000 Bitcoin move and we have seen previously how plus token has moved Big cone and being able to successfully dumped the beat comprise.

Let me just show you on example of Ah, where we saw this exact thing happened.

You guys probably remember this period of time, right?

This was also a very, very severe period with severe dumping and it took everyone by surprise.

No one predicted the fact that because was gonna dump in this very, very explosive move and by now we know it's actually very likely that this was due to plus token dumping the thousands and thousands of big corner on the market.

And interestingly, here we have an article from just yesterday talking about how the Chinese scamps loss token is moving $117 million worth of Bitcoin.

And this article talks about a possible dump coming because of this big move in Bitcoin.

And even famous trader Jacob Canfield weighed in on the topic, saying that it looks like the plus token Ponzi scheme has deposited morbid corn, a time for caution and diligence in the markets.

And this was before the big dump would just sock.

And right now, I would love to know what you guys think.

Please vote in this poll.

Was this dump because of plus token selling, or is this just a normal technical thing?

All right, enough about that speculation.

So this dump now has, of course, been a bearish turn of events.

But we already knew that become was going Barish because of the fact that we broke this level.

We had some previous resistance.

And what I said yesterday was that if we could break this level than in my opinion, we are entering into a bear trend and we should expect lower prices now, of course, Um, by no means that they did, I expect such a severe sell off.

That's very, very surprising.

Ah, but this was a key support level which did not hold.

And actually that was not the only support that didn't hold.

Let's go to the daily time frame and bring out the daily moving averages and we can see here how the red line, the 200 day moving average is currently broken.

Now, of course, we don't have a daily close below yet.

This could still work straight back up again.

However, technically we are right now below the 200 daily, and if we go over to the weekly timeframe, we can also see now how big could actually broke down below the 20 week this purple line.

Now this is a weekly candle, and this is Sunday.

Bitcoin could still weak back above it.

So let's keep an eye on this right now.

Because, like I said previously, if Big Corn closes below the 20 week again, then in my opinion, that confirms the Barish scenario and we should probably expect much lower prices.

But it's not really decisive and conclusive just yet, So we have to give this some more time and going back to the daily.

We can see this head and shoulders that I was talking about earlier today before Beacon broke this neckline.

I was talking about how we have this shoulders, head and shoulders, and the developments here is that we could actually broke below the neckline.

And technically, this means that Biko now has a head and shoulders targets all the way down here off approximately $6400.

Do I believe that because going down all the way to 6.4000.

No, I don't think so.

Personally, I think that the lowest range I am looking for him is actually very close to the golden pocket of approximately 8000 down to 7.8 approximately.

That's the Golden Park.

It and the Golden Pocket is very significant.

And maybe the most compelling recent as to why 7.87 point seven could make sense is, of course, the, um the C M E futures gap that we have all the way down there.

This gap has not yet been filled, and it is approximately at 7.7.

Ah, this is a reason to believe that we might come down to these levels and we could also see that there will probably be a lot of support coming in here from the previous resistance.

And I think it's unlikely that because go much lower than 7.7 and please your comments down below in the common section, do you believe that this gap will be filled or not?

And something else that I want to quit the touch on is the fact that, um earlier today I told you that we might be having a small bear flag playing out here.

And the update?

No, is that big?

Could actually broke down below this bear flag and an approximation of the target would be something like this.

And, ah, essentially, this will give us a target of approximately $7.8000.

And big corn from the point of the break up has already come more than halfway down towards that targets.

But guys, very, very important.

As I pointed out, President, today is Sunday.

This is the seamy futurist art, and the seamy futures closed all the way up here at nine points, Air 19.2.

But the beat comprises currently all the way down here approximately, so you can see how there's a huge gap here.

This is the range of the gap and you know the deal, these gaps, they tend to get filled sooner rather than later.

When the markets open again.

It will be very, very interesting to see how this will play out.

But you can see that this will be the biggest gap that we've seen in a very, very long time.

The last time we saw a gap of this magnitude was back here and you can see how it got immediately filled basically in the following days here.

So let's just keep this in mind.

And here in the immediate short term, I just wanna also point out that Bacon is running into a support area.

I think we can see here how there's been some resistance from all the way back there and you can see here how this level was significant because as soon as become broke, this that's where this selloff started.

To really take off to the downside.

And if we zoom out even more, Ah, like this, you could see resistance support.

And this is exactly where Bitcoin is currently testing for support.

So it is possible that we get the short term bones from these levels on this support zone is between 296,370 approximately, and guys feel free to go down below this video, click the like button that helps out a lot.

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Thank you very much for watching.

I really hope that you enjoy this video.

And if you haven't seen this video, that thing right there right now.

And I'll see you guys tomorrow.